Skip to content
  • About
  • Contact
  • Contribute
  • Book
  • Careers
  • Podcast
  • Recommended
  • Speaking
  • All
  • Physician
  • Practice
  • Policy
  • Finance
  • Conditions
  • .edu
  • Patient
  • Meds
  • Tech
  • Social
  • Video
    • All
    • Physician
    • Practice
    • Policy
    • Finance
    • Conditions
    • .edu
    • Patient
    • Meds
    • Tech
    • Social
    • Video
    • About
    • Contact
    • Contribute
    • Book
    • Careers
    • Podcast
    • Recommended
    • Speaking

Here are the common ways that doctors can practice medicine

Smart Money, MD
Physician
January 29, 2020
121 Shares
Share
Tweet
Share

When I finished my training, I wish that I had known all of the options I could practice medicine.  Most of us categorized our options as either “academic” practice or “private practice,” but in reality, these two options only cover the tip of the iceberg.  Was my limited understanding a shortcoming of my medical training?  Perhaps.  I doubt that many medical schools back then actually had seminars on practicing medicine.  Since nearly all of my attendings belonged on faculty or clinical faculty, it would have been nearly impossible for them to round up a bevy of doctors from all walks of the medical scene.

The following is a compilation of some of the more common ways that doctors can practice medicine.  There are nuances in every category of medical practice that one would only truly understand after practicing in that venue, but here is a good introduction (along with my personal opinions):

Solo practice

Solo practice medicine is, unfortunately, not as popular for a number of reasons, but it is still a viable form of medical practice.  Generally speaking, one could either purchase a practice from a retiring physician or start from scratch.  That means buying your own building or finding a lease, signing up for insurance plans, and going at it.  There is always a learning curve to starting your own practice straight out of residency, but it could be done.  Obviously, some specialties in medicine may be more conducive to solo practice than others.

Pros:

  • You can call your own shots.  That means taking all of the vacations you want.  Or you can work 365 days a year if you’d like.

Cons:

  • Likely to require more involvement in the practice, including the business aspects of medicine.
  • May require many years of long hours before business will flourish.
  • Insurance companies in certain markets may not allow individual doctors to enroll in their plans if there are larger medical practices that are willing to take care of more medicine for less reimbursement.
Group private practice

Most of my classmates who decided to go into the private sector ended up joining a medical group.  These medical groups may be small, several-doctor organizations, or multi-specialty behemoths.  One of the perceived advantages of joining a large group is that they may better systems in place for benefits and that the patient volumes are more mature.  Having multiple coworkers also means that you will have more opportunities to collaborate and dissent.  Group practices may be able to allow doctors to achieve higher than average salaries for their field, given that there is likely some capitalistic motivation among the group’s members.

Academic practice

Academic medicine is synonymous with working for a university with teaching or research opportunities.  This may be the most “conservative” approach to many doctors’ first jobs since most of us trained at academic institutions (there are some training programs that are spin-offs of private practices).  Many of my classmates simply opted to remain on faculty at the institutions that they trained at after finishing fellowship.  There is familiarity with remaining at the institution that you spent the previous few years at.

Pros:

  • Familiarity with an institution that you’re already working at.
  • Good intellectual support system.
  • Likely cutting edge medicine.
  • Research support if you opt to conduct clinical/laboratory research.

Cons:

  • Excessive familiarity with the institution that you’re already working at.
  • Possibly poorly organized clinical support staff.
  • Likely cap on earning potential.

Managed care practice

In recent years, there has been an uprising of managed care organizations, or those that have certain arrangements with health insurance to provide care.  Some healthcare systems like Kaiser Permanente have an insurance wing and a physician wing that work to cut costs and optimize care.

Pros:

  • Optimized healthcare system. Robust benefits program.
  • Stable and likely job security.

Cons:

  • Physicians may be subjected to assembly-line care.
  • May have a high volume of patients
  • May have restrictions on how you can practice medicine.
  • Not necessarily conducive to elective procedures.

Government / VA 

In some ways, working at a VA is sort of like working at a managed care organization except that the VA may even be more slow to adjust to anything. Many of us who have worked in VA systems may have felt that the clinics and operating theaters functioned incredibly inefficiently. That being said, to each his own. Working for the government does have its perks in set working hours and mostly easy pace of life, plus the fact that you are taking care of our country’s veterans.

“Smart Money, MD” is an ophthalmologist who blogs at the self-titled site, Smart Money MD.

Image credit: Shutterstock.com

Prev

What is "fair" payment for medical services?

January 29, 2020 Kevin 6
…
Next

There is no such thing as medical swag

January 30, 2020 Kevin 0
…

Tagged as: Practice Management

Post navigation

< Previous Post
What is "fair" payment for medical services?
Next Post >
There is no such thing as medical swag

More by Smart Money, MD

  • Is passive income a lie?

    Smart Money, MD
  • What to do financially when you’re a doctor getting a divorce

    Smart Money, MD
  • Doctors in tech cities are losing the rat race

    Smart Money, MD

Related Posts

  • Why do doctors who hate being doctors still practice?

    Kristin Puhl, MD
  • Medicine could use more common sense

    Leonard Zwelling, MD
  • How social media can advance humanism in medicine

    Pooja Lakshmin, MD
  • What doctors need to know about psychedelic medicine

    Lynn Marie Morski, MD, JD
  • Improving physician satisfaction by eliminating unnecessary practice burdens

    Yul Ejnes, MD
  • Why academic medicine needs to value physician contributions to online platforms

    Ariela L. Marshall, MD

More in Physician

  • The escalating violence in health care workplaces: a critical problem facing the nation’s health care system

    Harry Severance, MD
  • Is chaos in health care leading us towards socialized medicine? How physician burnout is a catalyst.

    Howard Smith, MD
  • Why allowing yourself to embrace discomfort is necessary for personal growth

    Jillian Rigert, MD, DMD
  • Unconventional health care, flawed studies, and biases: Navigating the complexities for optimal well-being

    Kara Wada, MD
  • Finding your ideal work-life balance: tips for prioritizing personal life and achieving professional success

    Zahid Awan, MD
  • Boxing legends Tyson and Foreman: powerful lessons for a resilient and evolving health care future

    Harvey Castro, MD, MBA
  • Most Popular

  • Past Week

    • Physician entrepreneurs offer hope for burned out doctors

      Cindy Rubin, MD | Physician
    • Why doctors aren’t to blame for the U.S. opioid crisis [PODCAST]

      The Podcast by KevinMD | Podcast
    • The power of coaching for physicians: transforming thoughts, changing lives

      Kim Downey, PT | Conditions
    • The hidden factor in physician burnout: How the climate crisis is contributing to the erosion of well-being

      Elizabeth Cerceo, MD | Physician
    • Unlocking the secrets of cancer conferences: an end-of-life counselor’s journey among pharmaceutical giants

      Althea Halchuck, EJD | Conditions
    • We need a new Hippocratic Oath that puts patient autonomy first

      Jeffrey A. Singer, MD | Physician
  • Past 6 Months

    • “Is your surgeon really skilled? The hidden threat to public safety in medicine.

      Gene Uzawa Dorio, MD | Physician
    • It’s time to replace the 0 to 10 pain intensity scale with a better measure

      Mark Sullivan, MD and Jane Ballantyne, MD | Conditions
    • Breaking point: the 5 reasons American doctors are dreaming of walking away from medicine

      Amol Shrikhande, MD | Physician
    • Revolutionize your practice: the value-based care model that reduces physician burnout

      Chandravadan Patel, MD | Physician
    • Breaking the cycle of racism in health care: a call for anti-racist action

      Tomi Mitchell, MD | Policy
    • Unveiling the hidden damage: the secretive world of medical boards

      Alan Lindemann, MD | Physician
  • Recent Posts

    • Healing trauma and reconnecting: Unmasking the impact of dissociation [PODCAST]

      The Podcast by KevinMD | Podcast
    • Why the WHO’s pandemic accord is critical for global health care

      Elizabeth Métraux | Policy
    • The revolutionary Kaiser-Geisinger deal: How health care giants are reshaping the industry and empowering patients

      Robert Pearl, MD | Policy
    • The escalating violence in health care workplaces: a critical problem facing the nation’s health care system

      Harry Severance, MD | Physician
    • Is chaos in health care leading us towards socialized medicine? How physician burnout is a catalyst.

      Howard Smith, MD | Physician
    • A pediatrician’s journey into integrative medicine [PODCAST]

      The Podcast by KevinMD | Podcast

Subscribe to KevinMD and never miss a story!

Get free updates delivered free to your inbox.


Find jobs at
Careers by KevinMD.com

Search thousands of physician, PA, NP, and CRNA jobs now.

Learn more

Leave a Comment

Founded in 2004 by Kevin Pho, MD, KevinMD.com is the web’s leading platform where physicians, advanced practitioners, nurses, medical students, and patients share their insight and tell their stories.

Social

  • Like on Facebook
  • Follow on Twitter
  • Connect on Linkedin
  • Subscribe on Youtube
  • Instagram

CME Spotlights

From MedPage Today

Latest News

  • Could Semaglutide Help Curb Addictive Behaviors?
  • 'If the Narcan Isn't Working, Give More' and Other Myths About Naloxone Use
  • CDC: Children's Brain Infections Rose Last Winter, But Remained Rare
  • Inside the Fight Against Burnout Amid the Chaos of War in Ukraine
  • Cardiovascular Risk Models Still Fall Short for Arthritis Patients

Meeting Coverage

  • Cardiovascular Risk Models Still Fall Short for Arthritis Patients
  • De-Escalated Surgery Suffices for Low-Risk Cervical Cancer
  • More Evidence Backs Gout Benefit for Gliflozin Agents
  • Reaction to FDA's Approval of Upadacitinib for Crohn's Disease
  • CDK4/6 Extends Reach Into Early-Stage Breast Cancer
  • Most Popular

  • Past Week

    • Physician entrepreneurs offer hope for burned out doctors

      Cindy Rubin, MD | Physician
    • Why doctors aren’t to blame for the U.S. opioid crisis [PODCAST]

      The Podcast by KevinMD | Podcast
    • The power of coaching for physicians: transforming thoughts, changing lives

      Kim Downey, PT | Conditions
    • The hidden factor in physician burnout: How the climate crisis is contributing to the erosion of well-being

      Elizabeth Cerceo, MD | Physician
    • Unlocking the secrets of cancer conferences: an end-of-life counselor’s journey among pharmaceutical giants

      Althea Halchuck, EJD | Conditions
    • We need a new Hippocratic Oath that puts patient autonomy first

      Jeffrey A. Singer, MD | Physician
  • Past 6 Months

    • “Is your surgeon really skilled? The hidden threat to public safety in medicine.

      Gene Uzawa Dorio, MD | Physician
    • It’s time to replace the 0 to 10 pain intensity scale with a better measure

      Mark Sullivan, MD and Jane Ballantyne, MD | Conditions
    • Breaking point: the 5 reasons American doctors are dreaming of walking away from medicine

      Amol Shrikhande, MD | Physician
    • Revolutionize your practice: the value-based care model that reduces physician burnout

      Chandravadan Patel, MD | Physician
    • Breaking the cycle of racism in health care: a call for anti-racist action

      Tomi Mitchell, MD | Policy
    • Unveiling the hidden damage: the secretive world of medical boards

      Alan Lindemann, MD | Physician
  • Recent Posts

    • Healing trauma and reconnecting: Unmasking the impact of dissociation [PODCAST]

      The Podcast by KevinMD | Podcast
    • Why the WHO’s pandemic accord is critical for global health care

      Elizabeth Métraux | Policy
    • The revolutionary Kaiser-Geisinger deal: How health care giants are reshaping the industry and empowering patients

      Robert Pearl, MD | Policy
    • The escalating violence in health care workplaces: a critical problem facing the nation’s health care system

      Harry Severance, MD | Physician
    • Is chaos in health care leading us towards socialized medicine? How physician burnout is a catalyst.

      Howard Smith, MD | Physician
    • A pediatrician’s journey into integrative medicine [PODCAST]

      The Podcast by KevinMD | Podcast

MedPage Today Professional

An Everyday Health Property Medpage Today
  • Terms of Use | Disclaimer
  • Privacy Policy
  • DMCA Policy
All Content © KevinMD, LLC
Site by Outthink Group

Leave a Comment

Comments are moderated before they are published. Please read the comment policy.

Loading Comments...